News about AME Elite

In a note on Thursday, the research house said AME Elite's stronger earnings were driven by higher contributions from its property development, engineering, and property investment segments.

With the additional rental from the three newly-acquired industrial properties, the industrial REIT’s net property income (NPI) grew 14.

“AME stands out in terms of its sole focus on industrial properties, which also offers a unique exposure to capture the ongoing inflow of foreign direct investment.

RHB said the potential addition of new land, especially in Johor, could be a share price catalyst as AME has been anchoring the industrial sector in Iskandar Malaysia.

Tan, 46, started his career with KPMG Malaysia in 1999 after his graduation from University of Technology, Sydney, Australia.

AME Elite said the new building facility in i-Park@Senai Airport City will have a built-up area of approximately 300,000 square feet, which will replace the existing factory at another site in Johor Bahru to increase production capacity.

AME group managing director Kelvin Lee Chai said that strong demand was recorded not only for its existing i-Parks, but also its newly-launched 169.

Lee said AME REIT is capable of acquiring up to RM480 million worth of assets based on its gearing of 8% currently.

Quarterly revenue, however, grew 78.

Hong Leong Investment Bank is appointed as the principal adviser, sole underwriter and joint bookrunner, together with RHB Investment Bank Bhd.